L-3 Holdings' Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2011

L-3 Holdings' Earnings Per Share [Abstract]

Reconciliation of basic and diluted earnings per share

	Year Ended December 31,
	2011			2010			2009
	(in millions, except per share data)
Reconciliation of net income:
Net income	$	968		$	966		$	911
Net income attributable to noncontrolling interests		(12	)		(11	)		(10	)
Net income allocable to participating securities		(2	)		(5	)		(8	)
Net income allocable to L-3 Holdings common shareholders	$	954		$	950		$	893
Earnings per share allocable to L-3 Holdings’ common shareholders:
Basic:
Weighted average common shares outstanding		104.4			114.3			116.8
Basic earnings per share:
Net income	$	9.14		$	8.31		$	7.65
Diluted:
Common and potential common shares:
Weighted average common shares outstanding		104.4			114.3			116.8
Assumed exercise of stock options		2.0			2.7			3.5
Unvested restricted stock awards		1.8			1.3			0.4
Employee stock purchase plan contributions		0.2			0.5			0.4
Performance unit awards		0.1			0.1			—
Assumed purchase of common shares for treasury		(2.9	)		(3.8	)		(3.7	)
Assumed conversion of the CODES (1)		—			—			—
Common and potential common shares		105.6			115.1			117.4
Diluted earnings per share:
Net income	$	9.03		$	8.25		$	7.61

⁽¹⁾  L-3 Holdings’ CODES had no impact on diluted EPS for the years ended December 31, 2011, 2010 and 2009 because the average market price of L-3 Holdings’ common stock during these periods was less than the price at which the CODES would have been convertible into L-3 Holdings’ common stock. As of December 31, 2011, 2010 and 2009, the conversion prices were $96.48, $98.94 and $100.14, respectively.